Recreational vehicle manufacturer Winnebago Industries announces CEO retirement

MarketsAssociated Press

Recreational vehicle manufacturer Winnebago Industries says company president and CEO Randy Potts is retiring and former chief executive Robert Olson will return to lead the company until the position is filled with a permanent replacement.

A company statement says Potts' retirement is effective Thursday. The company says his departure comes after discussions and it was collectively agreed that "this is the appropriate time for new leadership."

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A 32-year employee of the company based in Forest City, Iowa, Potts became president and CEO in 2011.

Olson, who is 64, retired in 2012 after 43 years with the company. He left the board last year.

Third quarter profit posted in June was up slightly from a year ago. Sales of motor homes rose 7.4 percent while towable RV sales rose 16 percent.